Redfin, Seattle, said low housing inventories, rising mortgage rates and double-digit home price increases have homebuyers willing to pay up—and up and up.
Tag: Redfin
Homeowner Tenure Flattens After 10-Year Rise
The typical American homeowner in 2021 had spent 13.2 years in their home, down slightly from the peak of 13.5 years in 2020 but up significantly from 10.1 years in 2012, said Redfin, Seattle.
Industry Briefs Mar. 1, 2022: Arch MI: Home Price Growth to Slow in 2022
Home sales, which increased more than 6% in 2021 to a 15-year high, will remain strong this year — supported by solid demographic trends and an expected increase in homes for sale, according to the winter edition of The Housing and Mortgage Market Review from Arch Mortgage Insurance Co., Greensboro, N.C.
Record-High 1 in 3 Homebuyers Looking to Relocate
A record 32.4% of Redfin.com users nationwide looked to move to a different metro area in January, up from the previous peak of 31.5% a year ago and significantly higher than before the pandemic, when one-quarter of homebuyers sought to relocate.
Industry Briefs Feb. 18, 2022: Constellation Mortgage Solutions Acquires ReverseVision
Constellation Mortgage Solutions Inc., Southfield, Mich., acquired ReverseVision Inc., San Diego, a provider of Home Equity Conversion Mortgage and private reverse mortgage sales origination software.
Home Buyers on Budget Stand to Lose Big as Mortgage Rates Rise
Should mortgage interest rates go higher—and the Mortgage Bankers Association predicts they will hit 4% by the end of the year—home buyers on a fixed budget stand to lose some economic power, said Redfin, Seattle.
Home Prices Soaring in Popular Migration Destinations
Phoenix, Dallas and Orlando saw the most migration activity in the U.S.—and some of the highest home price appreciation as well, reported Redfin, Seattle.
Survey: 1 in 4 First-Time Homebuyers Use Stimulus Money for Down Payment
Redfin, Seattle, said nearly one-quarter (24%) of first-time homebuyers are using stimulus money for their down payment, the second-most common way after saving directly from paychecks.
Industry Briefs Feb. 4, 2022: RMBS Non-Prime Mods Surge as Forbearances Expire
Fitch Ratings, New York, said non-prime loan modifications surged as forbearance plans expire across the sector.
Record 1/3 of Houses for Sale Are New Construction
The share of newly built single-family homes on the market is at a record high as builders try to keep up with surging homebuyer demand fueled by low mortgage rates, low inventory and remote work, said Redfin, Seattle.